Oil prices fall 2% on hopes of limited Saudi supply disruptions
XLE•Shipping risks remain in the Strait of Hormuz
Transporting oil through the region remains risky, however.
Iran's Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an "illegal passage" through the Strait of Hormuz on Thursday, Iranian state media said early on Friday.
The U.S. and Iran have held no peace talks since an interim agreement reached in June collapsed within weeks. The war will come up for discussion at the United Nations General Assembly next week, and an Iranian delegation will be able to attend, according to the U.S. State Department.
Oil prices extend losses as Saudi supply fears ease
Sept. 18 (Reuters) - Oil prices fell 2% on Friday, extending losses for a third straight session, as easing concerns over Saudi supply disruptions outweighed anxiety about a widening the Middle East conflict.
Brent crude futures LCOc1 fell $2.3, or 2.2%, to $102.53 a barrel by 0636 GMT, while U.S. West Texas Intermediate CLc1 futures fell $1.85, or 1.8%, to $100.04 a barrel.
